Cryptocurrency mining facility to bring jobs, significant investment to local community
MEROM, Ind., May 11, 2022 (GLOBE NEWSWIRE) -- An ultramodern, sustainable cryptocurrency mining facility will soon transform a portion of the site at a 50-year-old power station in Southwest Indiana. The high-tech facility, built and financed by Kentucky-based crypto pioneers AboutBit, LLC, will specialize in the validation of multiple electronic assets and will bring multiple next-gen jobs to Sullivan County and the surrounding area. The cryptocurrency mining facility will go online adjacent to the Merom Generating Station in the next 30 days.
The development is expected to create up to 15 new high-tech jobs, with the potential for more hires once the datacenter is online. WIN Energy CEO Tom Nowaskie says the project will benefit the local economy and member-owners of the cooperative.
“We believe there is tremendous potential for rural areas and advanced technology infrastructure such as data storage, cryptocurrency and cybersecurity facilities,” said Nowaskie. “This is an example of that potential, and we look forward to exploring similar opportunities in the future. We also appreciate the continued positive collaboration and engagement with Sullivan County and community leaders.”
Unlike other crypto mining projects, environmental and noise pollution will be mitigated through advanced technology and the location of the facility itself.
A cutting-edge liquid cooling system will ensure the machines run quietly, in contrast to the roaring, fan-cooled rigs often associated with crypto mining facilities. Additionally, the construction of the datacenter on the site of a long-time power plant means the buildout will have little to no impact on the surrounding environment.
Through a five-year agreement, AboutBit will purchase 115 megawatts of electricity from WIN Energy to power the facility. In order to accommodate such a high load, the power supply to the facility is fully interruptible, allowing AboutBit to respond to power requirements at times of peak demand.
“It’s hard to spin up and spin down power plants,” said AboutBit founder and CEO Stacy Griggs. “If demand in the region hits a peak, we’ll actually be able to reduce our power requirements from WIN Energy and scale back our use at the mining facility, ultimately benefiting other customers in Southwest Indiana.”
WIN Energy is an electric distribution cooperative with its wholesale power purchased from Hoosier Energy located in Bloomington, Indiana, which is a Generation and Transmission (G&T) cooperative. Hoosier Energy is owned and governed by 18 member distribution cooperatives in Central and Southern Indiana and Southeastern Illinois, including WIN Energy. Hoosier Energy’s Board of Directors approved the agreement earlier this year.
“This project continues our commitment to facilitate economic development opportunities near Merom,” said Hoosier Energy President & CEO Donna Walker. “I’m proud of our team’s diligence in seeing the agreement through, benefiting both WIN Energy and all of our members.”
AboutBit is a Louisville, Ky.-based crypto startup dedicated to building more sustainable solutions to mine cryptocurrencies while equally contributing to the growth of BTC and its investors’ returns. AboutBit specializes in the deployment of mobile, turnkey containerized datacenters powered by alternative sources of energy. Through a partnership with Starlink, the pods are equipped with unparalleled connectivity to ensure mining operations continue without interruption, utilizing less power. In addition to the mobile miners, AboutBit is investing in brick-and-mortar mining facilities in the Midwest and Western United States. AboutBit is propelling higher gross margins and providing a lower risk environment for its partners, the industry, and the planet.
More than 75 years ago, a group of determined, rural residents united in their cause to bring electricity to their homes and farms. Local farmers and rural residents banded together to form what today is known as Western Indiana Energy Rural Electric Membership Corporation (WIN Energy REMC). WIN Energy REMC was formed October 1, 1997, with the merger of Knox and Sullivan County REMCs. The heritage of WIN Energy REMC dates back to 1939 when both Knox and Sullivan County REMCs were incorporated.
WIN Energy has historically acted as an 'energy source' to spur economic growth in our communities and to create a better style of living. Our mission is to provide safe and reliable electric service to our members.
Founded in 1949, Hoosier Energy is a generation and transmission cooperative (G&T) with headquarters in Bloomington, Indiana. The G&T provides electric power and services to 18 member distribution cooperatives in central and Southern Indiana and Southeastern Illinois. We are a community-focused organization that works to efficiently deliver affordable, reliable and safe energy.
Collectively, our 18 members serve nearly 760,000 consumers. Hoosier Energy is an equal opportunity provider and employer. For more information, visit hoosierenergy.com.